Validity is the extent to which a concept, conclusion or measurement is well-founded and corresponds accurately to the real world. The word "valid" is derived from the Latin validus, meaning strong. The validity of a measurement tool (for example, a test in education) is considered to be the degree to which the tool measures what it claims to measure; in this case, the validity is an equivalent to accuracy.
In psychometrics, validity has a particular application known as test validity: "the degree to which evidence and theory support the interpretations of test scores" ("as entailed by proposed uses of tests").
It is generally accepted that the concept of scientific validity addresses the nature of reality and as such is an epistemological and philosophical issue as well as a question of measurement. The use of the term in logic is narrower, relating to the truth of inferences made from premises.
Validity is important because it can help determine what types of tests to use, and help to make sure researchers are using methods that are not only ethical, and cost-effective, but also a method that truly measures the idea or construct in question.
Validity of an assessment is the degree to which it measures what it is supposed to measure. This is not the same as reliability, which is the extent to which a measurement gives result that are very consistent. Within validity, the measurement does not always have to be similar, as it does in reliability. However, just because a measure is reliable, it is not necessarily valid (and vice versa). Validity is also dependent on the measurement measuring what it was designed to measure, and not something else instead. Validity (similar to reliability) is a relative concept; validity is not an all-or-nothing idea. There are many different types of validity.
Construct validity refers to the extent to which operationalizations of a construct (e.g., practical tests developed from a theory) measure a construct as defined by a theory. It subsumes all other types of validity. For example, the extent to which a test measures intelligence is a question of construct validity. A measure of intelligence presumes, among other things, that the measure is associated with things it should be associated with (convergent validity), not associated with things it should not be associated with (discriminant validity).